Freehold Sale, 39-41 High Street, HP20

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Key Points

Summary

Prominent Residential Development & Investment Opportunity

Description

The property is very prominently located on the High Street, next door to Marks and Spencer and opposite a range of takeaway operators including McDonalds and Wimpey.

The property benefits from a return frontage from the High Street with a ground floor retail unit with first floor ancillary space.

The first and second floors have planning permission granted for a change of use and extension to residential:

Application: 23/01376/APP
First floor: 2x 1 bed apartments (435 sf and 556 sf)
Second floor: 1x1 bed and 1x2 bed apartment both with terraces. (528 sf and 691 sf)

Lease agreed dated 17th September 2024 on the Ground floor and part first floor let to Kayani Bistro Group Ltd (Co Reg No 15343806) trading as Creams (creamscafe.com) on a 15 year lease with tenant only break at year 10. Upwards only rent reviews every 5 years and Security of Tenture. Initial rent of £45,000 per annum plus VAT rising to £50,000 by year 4.

Location

The property is situated opposite the entrance to the Hale Leys Shopping Centre and within close walking distance of the cinema, theatre, Market Square and Friars Square Shopping Centre.

Aylesbury is the County Town of Buckinghamshire and is approximately 44 miles northwest of central London 23 miles from Oxford and 15 miles south of Milton Keynes. The town is on the junctions of the A41 the A413 and A418 with access to the M40 M1 and M25 motorways within a 20 minute drive. The Chiltern Railway Line provides a direct rail service to London Marylebone of approximately 55 minutes

Terms

The property is available for sale on a freehold basis.

EPC

E112

Money Laundering / Identity Checks

Money Laundering and Identity checks will be carried out on all Tenants and proof of identity documents will be required.